The Government is committed to maintaining a stable and sustainable property market
Speaking at the BCA-REDAS Built Environment and Property Prospects Seminar National Development Minister Desmond Lee said that his Ministry is committed to maintaining a stable and sustainable property market. Mr Lee said that a sustainable property market is important because it has a direct impact on Singaporeans as most of us own homes.
For the private housing market, the Government has put in place several measures over the years to try to ensure that prices move in line with economic fundamentals. This is to ensure that there is a sustainable property market which remains resilient to economic downturns, property bubbles and external shocks like a pandemic.
Mr Lee said that even in the midst of the pandemic and economic challenges, the property market has stayed generally resilient and we are starting to see some signs of renewed positive sentiments in the property market. But he noted that the pace of increase in private housing prices has gathered momentum since the second quarter of last year. Developers’ sales at recent project launches have been robust. With developers’ inventory of unsold units progressively coming down, there has been healthy bidding interest in recent Government Land Sales tenders.
He cautioned, “But we must remain vigilant. The property market is not insulated from ongoing uncertainties in the global economic outlook, nor setbacks to the recovery in the domestic labour market. Developers should continue to remain prudent in their land bidding and work with agents to market their projects responsibly to allow buyers to make considered decisions that take into account their needs and affordability.”
“Households in turn need to exercise caution in their property purchase decisions. Given the uncertain economic outlook and possible rises in interest rates, buyers should be mindful of their ability to service their mortgage obligations before making long-term financial commitments.”
The Government Mr Lee said “is monitoring the developments in the property market very closely” and will adjust its policies if necessary, to maintain a stable and sustainable property market for all Singaporeans.
The Ministers comments on the importance of ensuring a sustainable property market comes as the pace of increase in private housing prices has gathered momentum since the second quarter of 2020, with developers’ sales at recent project launches being robust. For instance, on Sunday afternoon, developer Kingsford Huray Development said that a third of the residential units offered at Normanton Park were sold at an average price of S$1,750 per square foot on the first day of sales.
Normanton Park is set to become a mega launch in one of Singapore’s most coveted residential neighbourhoods. A project of the famed Hong-Kong-based Kingsford Huray Development, Normanton Park is located in District 5 and will soon feature 1862 residential units over a 6-hectare land site.
With 55 facilities designed for luxury living amidst nature-inspired settings, residents will live in the lap of indulgence at Normanton Park and its immediate environment.
A 99-year leasehold residential high rise, Normanton Park is the dream home you’ve been waiting for.
Normanton Park is located right across Kent Ridge Park on District 5. Located on the Buona Vista and West Coast Highway, it has always been a popular residential neighbourhood in the city fringe of Singapore. With easy connectivity to the rest of Singapore, the convenience of amenities, and strong community culture, District 5 offers the perfect spot for families, investors, and multigenerational residents.
When it comes to transportation, the Kent Ridge MRT Station is but a 2-minute away, while the Buona Vista MRT Station is only 6 minutes from the property. In terms of private vehicles, there’s direct access to expressways, such as the Ayer-Rajah Expressway, the CTE or Central Expressway, and other highways.
And if a home that’s walking distance to your place of work is what you’re looking for, Normanton Park is actually within walking proximity to the rapidly growing district in One-North, which is home to major companies such as Mediacorp, Unilever, and many more.
This mega launch is more than just its 24-storey high towers and its opulent features and facilities. The amenities that surround District 5 are something to be lauded for. Shopping, healthcare, business, education, and connectivity are within easy reach from the property. In terms of lifestyle options, food, dining, and shopping are all around, as well as parks and recreational facilities.
The Kent Ridge Park, for example, is only a stone’s throw away, with residents enjoying direct access. The Singapore Botanic Gardens is just a 9-minute drive away, as well as West Coast Park.
In terms of healthcare, several hospitals are nearby, which are:
-National University Hospital
These are also within 10-minutes drive from the property, offering quality healthcare for its residents. And that’s not all, District 5 is also home to some of Singapore’s most prestigious schools, which include:
-Fairfield Methodist School
-National University of Singapore
-Ngee Ann Polytechnic
With 9 towers having 24-storeys each, residents are offered stunning views of Singapore’s skyline, the sea, and the greenery that surrounds District 5. Residents can choose from 1-bed to 5-bedroom homes, each equipped with designer furnishings and appliances. Living well comes naturally at Normanton Park with 55 facilities designed for physical invigoration, total relaxation, and absolute entertainment.
There are 1862 residential units at the property, but also 7 retail shops, and one restaurant, offering exclusivity and convenience for all residents.
More than 70% of the units will have maximum views of the Greater Southern Waterfront, with the rest having greenery views.
Some of the facilities residents will enjoy at the property include:
-Plenty of lawns and outdoor gardens
-A fully-equipped gym, outdoor fitness area
-A 50m lap pool
-A 150m pool
-A family pool
-A children’s pool
-A Tai Chi garden
-A forest Trail
-A tennis court
-And plenty of outdoor facilities that promote fitness, relaxation, and absolute luxury
Normanton Park is proudly presented by esteemed and award-winning developer Kingsford Hurray Development Pte Ltd. They are in the business of property management, property development, and manufacturing. They are a leading developer in Asia, and they have won the Singapore Prestige Brand Award in 2019.
For every project they endeavour, they always consider the local conditions of the environment and surroundings, protecting and improving the natural landscape while creating sustainable solutions and developments with nature. And thus, you will discover that Normanton Park will seamlessly blend with the natural neighbourhood of District 5, offering a residential enclave with nature as its ultimate inspiration.
If you’re interested to own your piece of this mega launch, get the services of trusted mortgage brokers to compare home loan Singapore. Your dream home is just a call or message away. Begin your journey to luxury and wellness right at the comforts of your own home at Normanton Park.